After a slow 2020, Vietnam has logged record revenue growth from the export of handsets and components during Q1 2021.
As reported by local outlet Vietnamnet, the Ministry of Industry and Trade recorded export revenue totaling $14.1 billion in the first quarter, a year-on-year increase of 9.3%. In total, domestic manufacturing of devices rose by 2.7% to 54.5 million units during the quarter.
The bulk of production was devoted to exports, with the domestic appetite for consumer electronics and optical equipment dropping by 13.5%. The boost in manufacturing saw imports of components total $4.9 billion, an increase of 48.1%.
The General Statistics Office of Vietnam reported that mobile phone exports sat at $51.2 billion throughout 2020. In late 2019, Samsung and Google began migrating device production from China to Vietnam.
Unsurprisingly, 2020 was a similarly stagnant year for smartphone shipments in China. The first quarter saw a year-on-year drop of 34.7% to 47.7 million units, but this has rebounded in 2021.
The China Academy of Information and Communications (CAICT) reported a 101.5% year-on-year increase in shipments, with 96.2 million devices shipped during Q1 2021. Of these, 71.3% were 5G-capable, up from 29.5% in the previous year.
Local manufacturers accounted for 88.5% of devices sold, while growth was fuelled by the introduction of 64 new 5G handsets coupled with falling prices for 5G-ready devices. Data from Counterpoint Research showed that during January, almost a third of 5G-capable devices sold were priced under US$300.
According to data from IDC, the final quarter of 2020 saw global smartphone shipments increase 4.3% to 385.9 million units, marking a return to growth.
